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DIRECTIVE No

DIRECTIVE No. 04/2002/CT-NHNN OF APRIL 1, 2002 ON THE STATE BANK�S LEGAL WORK IN 2002

Over the past time, the legal work of the State Bank has gained encouraging achievements; the elaboration and issuance of legal documents, the law dissemination and education, the inspection of law enforcement, the revision and systematization of legal documents, and the provision of legal consultancy have been synchronously organized and deployed. These activities have played an active role in the performance of the State management in the banking field, thus ensuring the effective and uniform macro- administration and -direction by the State Bank and contributing an important part to the general success of the banking service.

However, the role of legal work has not yet been properly perceived and evaluated and there remain several limitations in the deployment of legal work in some cases, failing to meet the requirements of the reality as well as of the managerial work. Regarding the elaboration of legal documents, some have not yet been issued in time and as scheduled; the revision, and evaluation of the implementation, of legal documents have neither been given due attention nor carried out regularly; some troubles and difficulties in the course of implementing legal documents have not yet been promptly reflected. Besides, the lack of information and comprehensive knowledge about international laws and practices has greatly affected the deployment of legal work. These limitations and shortcomings have constituted difficulties and challenges for the management of banking activities in the coming period as well as in the process of international economic integration.

In 2002, the State Bank�s key tasks in the legal work must closely follow its management activities, create effective measures and instruments to support the State Bank�s management and administration by laws. Besides, the legal work should contribute to raising the sense of law of the officials and employees of the State Bank. In order to satisfy the above requirements, the State Bank Governor directs the departments under the State Banks (departments) and the State Bank�s provincial/municipal branches (State Bank�s branches) to well perform the following tasks:

1. Raising the State Bank�s capability of elaborating legal documents in service of the State management work

The State Bank Governor�s legal documents must be promulgated in time and in response to the practical requirements, be feasible and consistent with the provisions of current legislation, and, step by step, compatible with international practices. In order to well carry out this task, the State Bank Governor requests:

- The departments to strictly comply with the legal document-drafting contents and schedules prescribed in the annual legislative program already registered; to concentrate their efforts on elaborating legal documents guiding the Law on the State Bank and the Law on Credit Institutions, ensuring the set plans and schedules. In cases of failure to fulfill the annual legislative programs already registered, the departments shall have to notify the Legal Department thereof for the latter to report such to the Governor.

- The departments which assume the prime responsibility in compiling legal documents shall have to survey and assess the practical situation, refer to and study international regulations and practices in the banking field, thus ensuring their consistency with the provisions of current legislation; strictly comply with the regulations in the process of elaborating and promulgating legal documents, paying special attention to gathering comments from the concerned units; ensure the time-limits for the expertise, submission, signing and promulgation of legal documents.

- The Department for International Relations to seek for technical support from international financial organizations such as IMF, ADB, WB,� for projects on raising the law-making capability in service of the elaboration and promulgation of legal documents, suitable to Vietnam�s conditions as well as international regulations and practices.

- The State Bank�s Office to coordinate with the Banking Informatic Technology Department in building and updating the database of legal documents of the banking service to the State Bank�s website (SBV.Net), meeting the information demands and serving the managerial activities of the State Bank.

2. Regularly and synchronously organizing the revision and systematization of legal documents

The revision and systematization of legal documents should be done regularly with a view to gathering and systematizing law provisions which are related to the banking field, so as to ensure their accuracy, consistency and convenience for the consultation and application of law provisions. The legal documents may be revised and systematized according to the temporal order or in topics suitable to each management subject.

- In 2002, the State Bank shall continue the review and evaluation of the practical situation of four years of implementing the Law on the State Bank and the Law on Credit Institutions, prepare plans on the amendment and supplementation of these two laws for submission to the Government and the National Assembly in the coming period.

- The departments and the State Bank�s branches, during the course of performing the function of inspection, supervision and management of banks� operation, if meeting with troubles and difficulties related to the enforcement of legal documents, shall have to report them to the Governor for proper adjustment.

- The Legal Department shall coordinate with the departments in concentrating efforts on revising and systematizing the provisions of Vietnamese banking legislation to suit the provisions of international treaties which Vietnam has signed or acceded to, especially those related to the banking field in the Vietnam-US Bilateral Trade Agreement.

3. Diversifying the forms of law dissemination and education

The objectives of the law dissemination and education are to help officials and employees of the banking service accurately and timely grasp the Party�s and State�s undertakings and lines, as well as the orientations and provisions of the banking legislation. The law dissemination and propagation should contribute to raising the sense of law of officials and employees and better serving the managerial activities and law observance in the banking service.

In 2002, to continue the dissemination of documents of the IXth Party Congress; the National Assembly�s Resolution on amendments and supplements to the 1992 Constitution, the laws on organization of the State�s apparatus (amended); to concentrate efforts on the propagation in service of the election of deputies to the National Assembly; to carry out the dissemination of legislation on enterprises, international economic integration and the Vietnam-US Bilateral Trade Agreement. The State Bank Governor requests:

- The Legal Department to carry out the law dissemination and education among officials and employees of the State Bank. The heads of the departments and the directors of the State Bank�s branches shall have to carry out the law dissemination and education among, as well as inspect and supervise the observance of law by, the officials and employees in their units regarding the contents on thrift practice, wastefulness and corruption combat, and the exercise of democracy in the agencies�

- The Party organizations and mass organizations such as the Youth Union and Trade Union in the State Bank to continue carrying out the law dissemination and education in different forms, thus diversifying the activities of law dissemination and education among their members.

- The Legal Department and the concerned departments to coordinate with the Banking Time newspaper, the Banking Magazine and the Press-Propagation Center in publishing newly-promulgated legal documents on the branch�s newspapers, widely disseminating the Vietnam-US Bilateral Trade Agreement�s sections related to the banking domain.

4. Raising the quality of legal consultancy activities

In order to further heighten the role of legal consultancy activities, ensuring the good performance of the function of advising the State Bank�s leaders on legal matters related to management and administration by law over the banking activities, and at the same time, ensuring the benefits of Vietnamese banks when participating in the process of international economic integration. In 2002, the State Bank Governor requests:

- The State Bank�s departments and branches to exchange and supply information in a timely and accurate manner, promptly report on troubles and disputes for coordination in handling and removing them with a view to protecting the legitimate rights and benefits of the State as well as of officials and employees of the banking service.

- The units which are assigned the responsibility to negotiate and sign international treaties, contracts or agreements with domestic and foreign partners to thoroughly study the relevant law provisions and international practices; the Legal Department to focus on performing the task of providing legal consultancy to the State Bank Governor on this field.

5. Coordinating in training and fostering to raise the qualification of staff members engaged in legal work

In order to ensure the successful implementation of the legal work of the State Bank, the training and fostering to raise the qualifications of the staff members engaged in the legal work must be given more attention. The Department for Organization, Personnel and Training shall coordinate with the Legal Department in working out plans and programs on training and fostering in economic and legal knowledge for the staff members engaged in the legal work, so as to ensure that they timely understand the international regulations and practices related to banking activities, thus serving the legal work in external activities, protecting the benefits of the State Bank and meeting the requirements for international economic integration in the coming period.

The heads of the departments and units attached to the State Bank and the directors of the State Bank�s branches shall have to deploy the implementation of this Directive. In the course of implementation, if any troubles arise, the units should report them to the State Bank Governor for consideration and settlement.

For the State Bank Governor

Deputy Governor
TRAN MINH TUAN